A brief look at the world of business
THE NUMBERS
£270 million
The amount British Airways has been fined in the UK and the US for colluding to fix the price of fuel surcharges.
£0
The amount its fellow conspirator Virgin Atlantic was fined - a reward for blowing the whistle on the cartel.
9
The percentage of Independent News & Media shares now owned by Denis O'Brien
QUOTE of the WEEK
"Anti-competitive behaviour is entirely unacceptable and we condemn it unreservedly."
British Airways chief executive Willie Walsh distances himself from the behaviour of "a limited number of individuals" in the airline who thought ringing up Virgin to co-ordinate increases in their "legitimate" fuel surcharges was a good plan.
QUOTE of the WEEK 2
"Given the Bancrofts' long and distinguished history as custodians of Dow Jones, we appreciate how difficult this decision was."
- Rupert Murdoch is gracious in victory as News Corporation ends the Bancroft family's stewardship of Dow Jones, after family members who held crucial voting shares succumbed to his bid to buy the Wall Street Journal publisher for $5 billion.
GOOD WEEK .
E-mail users
They enjoyed a seasonal reprieve in July, according to IE Internet, as the rate of spam dropped 5 per cent and virus-infected e-mails fell to their lowest levels since January 2004. The chief culprits of virus-spreading - home users with infected PCs - logged off and went on holiday instead.
Kingspan
The Irish insulation company will be feeling warm inside as UK legislation requiring home sellers to produce energy-aware Home Information Packs (HIPs) finally came into force, generating demand for its range of energy-saving products.
Sir Alan Sugar
The reclusive Bancrofts weren't the only ones to sell out to Rupert Murdoch this week, as the perennially understaffed Sir Alan sold the Amstrad business he spent his career building to BSkyB, presumably freeing up more time to do something really worthwhile with his life, such as starring in reality TV.
BAD WEEK
Australia
Iseq investors may be feeling bruised, but spare a thought for investors down under who saw the Australian dollar equivalent of more than €30 billion wiped off the value of their investments on Wednesday - the biggest single-day fall since September 11th, 2001.
Xerox workers
Confusion and anger abounded at the printing company's Blanchardstown site as 900 staff - some of whom have barely been working there long enough to find the toilets - were told that they face redundancy or redeployment overseas.
AIB
What has a bank got to do to be loved? On a day when it released forecast-beating interim results, crossing the €1 billion profit barrier for the first time and upgrading its full-year profit forecasts, AIB still managed to lose 1.5 per cent on the market, with 29 cent knocked off its share price by unconvinced shareholders.
